Americans Have $1.7 Trillion to Burn in Revenge-Spending Binge
Bloomberg 4 days ago
(Bloomberg) Shoppers are out for vengeance.
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A year into a pandemic that’s devastated lives, jobs and the economy, those who are lucky enough to have disposable income are ready to go out and splurge even if they still have nowhere to go in that stunning dress or those brand new sneakers. Some are calling this “revenge spending.”
U.S. retail sales are near record highs and employment and vaccinations are on the rise. Americans have amassed a massive stockpile of excess savings Bloomberg Economics estimates it to be about $1.7 trillion since the beginning of the pandemic through January. And that’s about to be bolstered by a new round of stimulus payments. As the economy reopens, consumer spending over the next two quarters is likely to be the strongest such period in at least 70 years with a rebound in services leading the way, according to economists at
Detroit, Baltimore, Phoenix Lead U.S. Cases: Virus Update
Bloomberg 3/13/2021
Detroit, Baltimore and Phoenix recorded the biggest recent rate of increases in Covid-19 cases, according to CDC data. Even so, the U.S. as a whole is on course for the fewest weekly infections since early October. Nationwide air travel reached 1.35 million people on Friday, a record during the pandemic.
Norway, among the countries that have suspended the use of AstraZeneca Plc’s vaccine, said three people who received the shot are being treated for severe blood clots and cerebral hemorrhages but said it was too soon to say if there was a connection.
Detroit, Baltimore, Phoenix Lead U.S. Cases: Virus Update Bloomberg 3/13/2021
(Bloomberg)
Detroit, Baltimore and Phoenix recorded the biggest recent rate of increases in Covid-19 cases, according to CDC data. Even so, the U.S. as a whole is on course for the fewest weekly infections since early October. Nationwide air travel reached 1.35 million people on Friday, a record during the pandemic.
Norway, among the countries that have suspended the use of AstraZeneca Plc’s vaccine, said three people who received the shot are being treated for severe blood clots and cerebral hemorrhages but said it was too soon to say if there was a connection.
Detroit, Baltimore, Phoenix Lead U.S. Cases: Virus Update Bloomberg 3/13/2021
(Bloomberg)
Detroit, Baltimore and Phoenix recorded the biggest recent rate of increases in Covid-19 cases, according to CDC data. Even so, the U.S. as a whole is on course for the fewest weekly infections since early October. Nationwide air travel reached 1.35 million people on Friday, a record during the pandemic.
Norway, among the countries that have suspended the use of AstraZeneca Plc’s vaccine, said three people who received the shot are being treated for severe blood clots and cerebral hemorrhages but said it was too soon to say if there was a connection.
Detroit, Baltimore, Phoenix Lead U.S. Cases: Virus Update
Bloomberg 3/13/2021
Detroit, Baltimore and Phoenix recorded the biggest recent rate of increases in Covid-19 cases, according to CDC data. Even so, the U.S. as a whole is on course for the fewest weekly infections since early October. Nationwide air travel reached 1.35 million people on Friday, a record during the pandemic.
Norway, among the countries that have suspended the use of AstraZeneca Plc’s vaccine, said three people who received the shot are being treated for severe blood clots and cerebral hemorrhages but said it was too soon to say if there was a connection.